AIB reduces fixed mortgage rates

AIB today confirmed it will cut its fixed interest rate for mortgage customers with effect from close of business on January 22nd.

The new one-year fixed rate will be 5.61 per cent while the two-year rate has been cut to 5.69 per cent.

The three-year fixed interest charge will be lowered to 5.90 per cent while the four and five-year rates will drop to 5.99 per cent. The revised ten-year fixed rate has been cut to 6.60 per cent.

The Bank said its variable rate remains unchanged at 5.61 per cent.

AIB’s move follows a reduction earlier this week by Irish Life & Permanent.